As Rattler Nation first reported on October 25, the Resident (ummm President) is taking steps to extort a $530,000 payment from the FAMU Federal Credit Union in exchange for the 71 year old credit union to use the University name. (See: Castell challenges credit union over use of name )
Nevermind, that the Florida A&M name was a part of the credit union's original federal charter signed by FAMC President J.R.E. Lee Sr., making Florida A&M College an official part of the CU's name.
In order to comply with the request, officials at the 71 year old credit union, said they may have to tax its members or raise interest rates to generate the funds.
Gene Telfair, president of the credit union, told the Capital Outlook he is not sure why, after 71 years of what he views as an amicable relationship, the university is making such a proposal but he is open to negotiations.
See Outlook story here:University Demands Cash
Also see: Moral equivalent to extortion
No wonder Bryant took the word "Caring" out of the university's motto. The new Bryant motto is "Excellence. Always. All ways."
ReplyDeletePerhaps a more appropriate motto for Bryant's administration would be: "Excellence in Extortion."
Excellence except when it comes to her administration
ReplyDeleteI can't believe this.
ReplyDeleteIs it me or does it seem like Rosie is taking a pop shoot at the NAA again?
ReplyDeleteHow will this Administration be remembered? Will this be the end of the name FAMU Federal Credit Union? After 71 years, does the name FAMU Federal Credit Union not count? What happens to the history of the Credit Union?
ReplyDeleteThis can't be a good thing for the membership of the credit union nor the community. Once again, more negativity.
WOW, this is unbelievable!! Why would someone or something want to take away 71 years of history? How much damage does HURRICANE BRYANT want to do before leaving Tallahassee? The university is going to need a lot of restructuring whenever she leaves.
ReplyDeletethis makes me mad
ReplyDeletestuff likes this makes me ashamed of my empolyer
Just because JRE Lee said it was okay doesn't make it okay. Our president is trying to get our financial house in order. That's all and we should support her on this as well.
ReplyDeleteThe Credit Union has plenty of money and if employees don't want to give at the university, then make them give at the Credit Union. They should be supporting their president and employer 100%!
Out!
Bryant is not getting our financial house in order by running up a $10M deficit and lying about a nonexistent surplus. Bryant is not a competent financial manager and has no concept of accountability.
ReplyDeleteLeave the credit union alone!
It's gonna take more than extortion from the credit union to put the financials in order. Byrant go away and leave our credit union alone!!
ReplyDeleteOur financial house is in order finally thanks to Dr. Castell Bryant and her administration!!!!!
ReplyDeleteOur president is trying to get our financial house in order.
ReplyDeleteBy lining her and her girlfriends pockets?
More like she's trying to get her personal finances in order. Hers Vivy, and Eva's.
These people do not need money or need to take money from FAMU. They are already set!
ReplyDeleteDr. Bryant retired and is financiall well off.
If the University's financials are in order, then why are we hearing of such a sizable deficit? Who reports a net increase in assets? Why are still paying an accounting firm thousands of dollars to get our financials in order?
ReplyDeleteTo Blogger 11/13/06 12:14 PM
ReplyDeleteIt's not okay...the credit union has other members other than FAMU employees.
Well they too should contribute to the well-being of FAMU.
ReplyDeleteQuestion ...
ReplyDeleteIs she asking for a Lump Sum payment of this amount upfront ... Or some kind of graduated payment schedule over a set number of years?
Does it really make a difference? The Credit Union can afford to pay this chicken change. It should be paid up front to give us the full return on the interest immediately.
ReplyDeleteIt's clear that Rufus Little is back on here trying to insult our intelligence with claims that Bryant is the Messiah.
ReplyDeleteHey Rufus, stop licking Bryant's boots and trying to spin extortion tactics. We've all caught on to you. You're not fooling anyone.
No get off this blog and get to work!
How has Bryant gotten FAMU's financial house in order?
ReplyDeleteIt's clear all you have to do is look at how the university is run. No more ghost employees and stealing.
ReplyDeleteNo more Ghost employees? Are you kidding is a certain free spirited Delta with the initals LL still employees?
ReplyDeleteTo Blogger 11/13/2006 3:54 PM
ReplyDeleteSo, you think $530k is chicken change. Then why don't you pay it, or should I ask how much have you given to endowed scholarships?
I am not a FAMU employee and I have kids who are not yet of college age and I certainly would not like to see my money given exclusively to FAMU whether my kids opt to attend FAMU or not.
Make sure your read between the lines. Castell Bryant personally despises Gene Telfair. She's trying to use this issue as a platform to open up serious allegations about the way he operates the FAMU Credit Union. Don't be surprised when, in the very near future, she publicly claims that Telfair became wealthy by "getting over" on FAMU financially.
ReplyDeleteBryant is gearing up for a new smear campaign to try and take down yet another successful black man who intimidates her. This is another episode in the same series of public attacks against individuals like Henry Lewis and Al Lawson.
Bryant, leave your personal issues out of FAMU!
Bryant better be careful.
ReplyDeleteIt might turn out that the FAMU Credit Union registered the legal name of FAMU before the university did.
Then FAMU might have to pay royalties to the credit union for use of the name...
All the Credit Union has to do is change its name.
ReplyDeleteThe North Florida Education Credit Union changed its name to Envision Credit Union.
Why don't we think of a new name for the FAMU Credit Union?
How about...
- Community Credit Union?
Why that woman want to F with the Credit Union is beyond me. As if she doesn't have enough to do and a short time to do it. Can somebody please this shyt to a sister? CVB's like the street bully: always going around looking for some innocent person to mess with just because she feels powerless if she doesn't F with smaller folks.
ReplyDeleteAnon 12:14, you must be one of those ares-kissers to even be posting some shyt like that. Damn, you don't even have a clue about what the WTF's going on at the university. I bet you'not not set foot on the university and/or contributed anything since (and/or if) you graduated.You need to STF up.
ReplyDeleteAnonymous @ 12:14 is clueless. Anyone who thinks Bryant got FAMU's financial house in order is delusional.
ReplyDeleteA Florida Classic Cheer!!!
ReplyDeleteCastell...Gotta Go!!!
Bring Back...Billy Joe!!!
Repeat over and over
FAMU will not return to its glory days, as under Pres. Humphries, until the likes of James Corbin and his cronies are removed from power and influence over the university's decision making process.
ReplyDeleteFAMU ought not
ReplyDeletepressure credit union
A recent union-commissioned survey at FAMU revealed that the faculty gave interim president Castell Bryant a failing grade for not understanding and appreciating the role and contribution of the faculty and other components that are essential to the welfare of the university.
The FAMU Federal Credit Union is a component that was established in 1935 for the sole purpose of providing financial services to FAMU employees. That purpose has expanded to include church groups, alumni, postal workers, other organizations, and the family of members.
The lack of appreciation for this service is reflected in FAMU's demand that the FAMU credit union fund a $530,000 endowment to support scholarships for three students annually. If the FAMU credit union fails to comply with this demand, it will lose the right to use the name FAMU, which it has used for 71 years.
The FAMU credit union is a not-for-profit organization, but it has indicated a willingness to do whatever it can to financially help FAMU students, as it now presently helps many FAMU employees who have been recently fired by FAMU.
If the FAMU Board of Trustees endorses this extortion at its December meeting, it will also deserve a failing grade.
WILLIE ROBERTS
robertsw@nettally.com
Ok, all emotion aside. Somebody please tell me why the Credit Union shuld get to use the University's property (its name and logo) for free?
ReplyDeleteThen show me where I can get the same deal.
The CU could probably get away with giving the school around $23,000 per year to use the name. Without putting up $500,000.
ReplyDelete$23K to use the name sounds like the CU could cut a good and cheap deal.
Every open bar eventually runs out of free drinks. Then you have to pay.
ReplyDeleteDamn, are they only asking for 23 grand a year. That should be doable with assets of more than $23 mill. What's that 0.1%?
ReplyDeleteCome on, Gene.
No one is against asking the FAMU Credit Union to support the university. However, no reasonable or fair-minded person can support the extortion tactics that Bryant is using. Her methods are the problem.
ReplyDeleteThe Credit Union has been a good steward to the FAMU community.
ReplyDeleteMany people who can't have a checking/savings account anywhere in the USA have one at the CU; many people who can't get a loan (car) with interest rates less than 27% can do so at the CU; many clubs and organizations at FAMU have received financial support from the CU; many students have received internships from the CU; and many students have received financial support from the CU; however, you don't see the CU beating it's chest and asking FAMU what have you done for me lately. They just keep on doing what they do because they are a part of our (FAMU) community and actions speak louder than words.
Now, tell me what has CastHell actions been of lately. How much has she contributed to FAMU? There are major corporations in our community that reap the benefit of our dollars. Is Casthell holding them accountable? FAMU students, faculty , staff and alumni spend over $10M a year in Tallahassee, why isn't she out there exhorting monies from them.
I am sick of this IP and her double standards.
What I would like CastHell to do is go over to FSU and tell TK he can't have our Engineering School. Now that's a fight worth fighting.
I thought we were already making some kind of formal contributions to th school. If not, we should just formalize the relationsihip, pay the money and move on. It is their name and we are using it.
ReplyDeleteYou're right. Dr. B ain't nobody's diplomat. But if we are using their stuff we should pay something.
ReplyDeleteI am a member of the CU. If push comes to shove, I think the CU should change it's name.
ReplyDeleteIt will always be referred to by all as the FAMU Credit Union. Bump the evil witch and the wizard. They have never been members here anyway.
Hell name it Strike Credit Union with a picture of a Rattler.
Yeah, and I hope the board of directors pole the membership before folking over one red penny. Hell, she done fire quite a few of the members and they are holding on by a shoestring. Don't give her one red penny of my money.
ReplyDeleteIf new leadership comes in, I probably feel differently, but right now forget dat!